Commerce Banc Insurance Services Adds Another Web-Based Customer Convenience
February 07 2007 - 11:10AM
PR Newswire (US)
CHERRY HILL, N.J., Feb. 7 /PRNewswire-FirstCall/ -- Commerce Banc
Insurance Services, a wholly owned subsidiary of Commerce Bancorp,
Inc. (NYSE:CBH), announced today that a new service is now
available to customers via Commerce Bank's web site at
http://www.commerceonline.com/. Now customers can get instant
automobile insurance rate quotes and initiate their purchase of
coverage on-line. The new service is being offered through a
partnership with Travelers, one of the nation's largest writers of
personal insurance. (Logo:
http://www.newscom.com/cgi-bin/prnh/20061201/PHF019LOGO ) "Auto
insurance is among the most frequently shopped insurance coverage
on-line. In keeping with the Commerce tradition of convenience, we
want our customers to have easy access to competitive insurance
rates with a highly rated, nationally recognized personal lines
insurer. We've coupled great rates with great service from
Commerce," said Michael Tiagwad, Commerce Banc Insurance's
President. Rosalie Grosso, Vice President of Personal Lines at
Commerce Banc Insurance, added, "Thousands of customers call us for
rate quotes, to purchase automobile insurance, or for service every
month. It was a logical extension of our service to offer insurance
shopping on-line in addition to providing customers with 24/7
service, claims help, or the ability to purchase insurance. I'm
pleased we've partnered with Travelers to bring our customers this
service." The new service is available to customers by visiting
http://www.commerceonline.com/equote. About Commerce Banc Insurance
Services Commerce Banc Insurance Services (CBIS) is the nation's
23rd largest insurance agency. Since its inception in 1996, strong
internal growth and a series of carefully planned acquisitions have
fueled the success of CBIS. With an annual premium volume of $1
billion and a network of 13 offices, Commerce Banc Insurance
Services provides a complete range of personal insurance coverage,
commercial property and casualty and employee benefits to more than
130,000 clients in all 50 states. In recent years, CBIS also has
expanded its focus to include specialty insurance practices to
serve clients whose needs extend beyond more traditional commercial
insurance coverage, including the fields of: - Education - Public
Entity - Executive Risk - Hospitality & Gaming - Life Science -
Financial Services - Healthcare - Professional Liability -
Construction - Risk Control - Non-Profit - Surety About Commerce
Bank Commerce Bank, "America's Most Convenient Bank," is a leading
retailer of financial services with 400+ convenient stores in New
Jersey, New York, Connecticut, Pennsylvania, Delaware, Washington,
D.C., Virginia, Maryland and Florida. Headquartered in Cherry Hill,
N.J., Commerce Bancorp (NYSE:CBH) has $45.3 billion in assets and
in fiscal year 2006 achieved an 18% increase in core deposits, a
23% increase in net loans and total asset growth of 18%. For more
information about Commerce, please visit the company's interactive
financial resource center at http://www.commerceonline.com/, or
call 888-751- 9000. About Travelers Travelers is a business of The
St. Paul Travelers Companies, Inc. (NYSE:STA), a leading property
casualty insurer selling primarily through agents and brokers. The
company's diverse business lines offer its global customers a wide
range of coverage in both the personal and commercial settings,
including automobile, homeowners, construction, small business, oil
and gas, ocean marine, financial and professional services, global
technology and public sector services. St. Paul Travelers is ranked
85 in the Fortune 500, with 2005 revenues of $24.4 billion and
total assets of $113.2 billion. The company has approximately
32,000 employees. Forward-Looking Statements The Company may from
time to time make written or oral "forward-looking statements,"
including statements contained in the Company's filings with the
Securities and Exchange Commission, in its reports to stockholders
and in other communications by the Company, which are made in good
faith by the Company pursuant to the "safe harbor" provisions of
the Private Securities Litigation Reform Act of 1995. These
forward-looking statements include statements with respect to the
Company's beliefs, plans, objectives, goals, expectations,
anticipations, estimates and intentions, that are subject to
significant risks and uncertainties and are subject to change based
on various factors (some of which are beyond the Company's
control). The words "may," "could," "should," "would," "believe,"
"anticipate," "estimate," "expect," "intend," "plan," and similar
expressions are intended to identify forward-looking statements.
The following factors, among others, could cause the Company's
financial performance "or other forward-looking statements" to
differ materially from that expressed in such forward-looking
statements: the strength of the United States economy in general
and the strength of the local economies in which the Company
conducts operations; the effects of, and changes in, trade,
monetary and fiscal policies, including interest rate policies of
the Board of Governors of the Federal Reserve System (the "FRB");
inflation; interest rates, market and monetary fluctuations; the
timely development of competitive new products and services by the
Company and the acceptance of such products and services by
customers; the willingness of customers to substitute competitors'
products and services for the Company's products and services and
vice versa; the impact of changes in financial services' laws and
regulations (including laws concerning taxes, banking, securities
and insurance); technological changes; future acquisitions; the
expense savings and revenue enhancements from acquisitions being
less than expected; the growth and profitability of the Company's
non-interest or fee income being less than expected; unanticipated
regulatory or judicial proceedings "(including those regulatory and
other approvals necessary to open new stores)" ; changes in
consumer spending and saving habits; and the success of the Company
at managing the risks involved in the foregoing. The Company
cautions that the foregoing list of important factors is not
exclusive. The Company does not undertake to update any
forward-looking statement, whether written or oral, that may be
made from time to time by or on behalf of the Company.
http://www.newscom.com/cgi-bin/prnh/20061201/PHF019LOGO
http://photoarchive.ap.org/ DATASOURCE: Commerce Banc Insurance
Services CONTACT: David Flaherty of Commerce Banc Insurance
Services, +1-856-751-4069 Web site: http://www.commerceonline.com/
http://www.commerceonline.com/equote
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